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Value of your property
October 13, 2010 by jaipurpropertyclub · Leave a Comment
Applying for a home loan before deciding on the property may bring nasty surprises later. Also, the banks incline more to the consumers who has finalize the property as it gives them a scope to start their evaluation and technical process. The amount of home loan looses its significance if valuation of the property is different from the bank’s valuation. However, a number of property developers have tie-ups with banks today. So, one can get the fast home loan as the projects are already pre-approved by HFCs.
Your checklist differs in case of the loan for second hand homes. The pointers for the concerned will include:
Will the property be acceptable to the lender?
Can you show all the documents and No Objection Certificates required by the bank in the same format?
Will you bank agree on to evaluate before you pay the processing fee?
Do you accept the valuation done by the bank?
Will an amenities agreement (if any) affect your loan eligibility?
If the property is under construction, check if the property developer and the stage of construction are acceptable to your bank?
